BOST curbs LPG shortage

The Bulk Oil Storage and Transport (BOST) has imported 2500 metric tonnes of Liquefied Petroleum Gas (LPG) into the country to ensure constant supply of the product on the market.

Consumers across the country in recent times have formed long queues at gas service stations owing to the shortage of the product on the market.

The shortage of LPG was due to some challenges faced by the main bulk distribution company, which has over the years imported the product into the country.

BOST quickly imported some 3,000 metric tonnes into the country last week and this week it added 2500 metric tonnes which is currently being discharged.

The Chamber of Petroleum Consumers (COPEC), in a statement signed by Paa Kwesi Anamuah Sekyi, Head of Research, said some additional 5000 metric tonnes are expected to be discharged by BOST on or before 13th October and a further 11000 metric tonnes a week after.

“We also understand the pressure valves for receiving and discharging LPG into and from Tema oil refinery tanks have been replaced with new efficient ones to reduce the current loading time from some 20min/truck to about 10mins/truck.

“From the arrangements, one would agree that adequate measures have been put in place to ensure continuous supply of the product into the system to ensure consumers are not inconvenienced,” he said.

Mr Anamuah Sekyi assured the general public that the Chamber would continue to monitor the system and promote the interests of the Ghanaian consumer.

He further advised the general public to remain calm and not rush to buy LPG since adequate steps had been put in place to ensure constant supply of the product.

Mr Anamuah Sekyi commended the management and staff of BOST and Tema Oil Refinery (TOR) for addressing the numerous problems in a timely manner.

The Chamber said the Oil Marketing Companies (OMCs) would maintain fuel prices in October.

“Today 1st October 2015 present another opportunity for a new fuel pricing window (1st-15th October 2015) from the Chamber of Petroleum Consumers.

“We have projected pump prices to remain unchanged for this period.

However, we expect the current market competition to drive industry players to reduce petroleum products by between 2.3 percent and 3.0 percent,” Anamuah Sekyi said.